According to Nikkei Asian Review, Bank of Japan policymakers are considering to downgrade their inflation outlook to reflect lower crude oil prices, reduction in mobile phone fees, and the expansion of free schooling at the next policy meeting.
“The BOJ is considering lowering its fiscal 2019 forecast for consumer price growth to around 1% from last October’s projection of 1.4%. Policymakers are also looking at a minor downward revision to the fiscal 2020 forecast of 1.5%,” wrote Nikkei’s Tatsuya Goto. “The effects of the global oil rout, cheaper mobile plans in Japan and the government’s approval of free preschool education are all expected to be transitory, with limited impact on prices after fiscal 2020.”
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